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Report Date : |
02.04.2013 |
IDENTIFICATION DETAILS
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Name : |
AMIB BROTHERS
INTERNATIONAL TRADING LLC |
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Registered Office : |
Al Daghaya, 19079
Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
22.05.2010 |
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Com. Reg. No.: |
1059696, Dubai |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Distributors of air conditioning and refrigeration spare parts and components. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
United Arab Emirates - ECONOMIC OVERVIEW
The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas output to 25%. Since the discovery of oil in the UAE more than 30 years ago, the UAE has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement. In April 2004, the UAE signed a Trade and Investment Framework Agreement with Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US, however, those talks have not moved forward. The country's Free Trade Zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. The global financial crisis, tight international credit, and deflated asset prices constricted the economy in 2009. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency. The UAE Central Bank and Abu Dhabi-based banks bought the largest shares. In December 2009 Dubai received an additional $10 billion loan from the emirate of Abu Dhabi. The economy is expected to continue a slow rebound. Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant long-term challenges. The UAE''s strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment.
|
Source : CIA |
Company Name : AMIB BROTHERS INTERNATIONAL
TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 22nd
May 2010
Commercial
Registration Number : 1059696,
Dubai
Trade Licence
Number : 639623
Chamber Membership
Number : 183045
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 5
Activities :
Distributors of air conditioning and refrigeration spare parts and
components.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
AMIB BROTHERS
INTERNATIONAL TRADING LLC
Location : Al Daghaya
PO Box : 19079
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2736922
Facsimile : (971-4) 2736923
Mobile : (971-50) 9177051
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Dubai.
Name Nationality Position
·
Muhammed
Irfan Butt Pakistani Managing Director
·
Shahzad
Ali Liaqat Ali Pakistani Director
·
Ahmed
Khalifa Rashid Ahmed Al Dalil Emirati Director
Date of Establishment : 22nd
May 2010
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1059696,
Dubai
Trade Licence No. : 639623
(Expires 17/05/2013)
Chamber Member No. : 183045
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Ahmed
Khalifa Rashid Ahmed Al Dalil 51%
·
Muhammed
Irfan Butt 25%
·
Shahzad
Ali Liaqat Ali 24%
Activities: Engaged in the import and distribution of
air conditioning and refrigeration spare parts and components.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 5 employees.
Companies registered
in Dubai, United Arab Emirates are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
·
United
Arab Bank
Deira Branch
Dubai
Tel: (971-4) 2220181
No complaints
regarding subject’s payments have been reported.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.38 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.